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Jun 8, 2012
06/12
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if congress deceives us into calling it a fiscal cliff, it will ruin the economy. they need to do this. it's time to take our medicine. host: next, from twitter -- let me go back to the wall street journal, reporting about the fed chief's testimony yesterday -- next is a call from plano, texas. mel is an independent. caller: i am a businessman and i have succeeded in this economy. if they ever want to try to stimulate our economy, they need to direct money to local governments and assign various committees of businessmen to spend on the best ideas brought forward from local citizens, like incubators. i tried recently to build a second store in allen, texas. it was $66,000 in fees on surveys, soil samples, environmental impact, anything they can make up. we have to get back to realism a. you cannot grow anything when local governments are out of control. texas is really a joke when you get down to the local government. that word has to begin. host: let's go back to our facebook community and hear what some of they are saying. and the conversation can continue on fac
if congress deceives us into calling it a fiscal cliff, it will ruin the economy. they need to do this. it's time to take our medicine. host: next, from twitter -- let me go back to the wall street journal, reporting about the fed chief's testimony yesterday -- next is a call from plano, texas. mel is an independent. caller: i am a businessman and i have succeeded in this economy. if they ever want to try to stimulate our economy, they need to direct money to local governments and assign...
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Nov 21, 2012
11/12
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goes off the broad fiscal cliff, the largest fiscal cliff, which according to our own analysis would throw the economy to the recession -- i do not believe the fed has the tools to offset that. that is why i believe it is important for the congress to address these fiscal issues soon and in a bipartisan way, a way that achieves the necessary long-term sustainability concerns the value of talk about recently, but also takes into -- i know you have talked about recently, but also takes into account how much strain will be experiencing in the next six months to a year from fiscal changes. >> let's have a question from the audience. >> you talk about the uncertainty of businesses because of all the things he mentioned. that is impacting decisions on investment. how much growth has been lost because of that, do you anticipate? >> it is neither here nor there, but when i was a graduate student 30 years ago i wrote my dissertation on the question of how uncertainty effects investment spending. i concluded it is not a good thing. [laughter] they gave me a ph.d. for that. [laughter] so it see
goes off the broad fiscal cliff, the largest fiscal cliff, which according to our own analysis would throw the economy to the recession -- i do not believe the fed has the tools to offset that. that is why i believe it is important for the congress to address these fiscal issues soon and in a bipartisan way, a way that achieves the necessary long-term sustainability concerns the value of talk about recently, but also takes into -- i know you have talked about recently, but also takes into...
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Oct 6, 2012
10/12
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we are already seeing the implications of the imminent fiscal cliff affecting the economy. we have seen lots of anecdotal reports of businesses talking about this coming, looking at the weaker economy, scaling back plans. we have the requirement that defense contractors must send out notices to employees that will be laid off. they are getting nervous. if you are a dividend investor in looking at it going from 15 to 45% in were one with some probability, -- in january, you are worried about being in the market. if we go over the fiscal club, it would be irresponsible in the extreme. the entire issue with the fiscal cliff is to get from here to spring 2013 being goods to words in the economy and not causing a recession. that should be the goal. if you look at the pieces of the cliff, the payroll tax cut, the temporary holiday, i think there is pretty much a bipartisan consensus that will go away. i consider it inconceivable we will get rid of the new taxes between now and june were one. -- january 1. that places a real premium on avoiding the rest of the tax hikes and spendi
we are already seeing the implications of the imminent fiscal cliff affecting the economy. we have seen lots of anecdotal reports of businesses talking about this coming, looking at the weaker economy, scaling back plans. we have the requirement that defense contractors must send out notices to employees that will be laid off. they are getting nervous. if you are a dividend investor in looking at it going from 15 to 45% in were one with some probability, -- in january, you are worried about...
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Nov 29, 2012
11/12
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going off the fiscal cliff will hurt our economy, it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only one was a balanced plan to protect the economy, protect the american jobs, and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reform, it's going to be impossible to address our country's debt crisis and get our economy going again and create jobs. right now all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it's time for the president and congressional democrats to tell the american people what spending cuts they are really willing to make. i'll take a few questions. it's been very clear over the last year and a half, i talked to the president about many of them. you can look at our budget. where we outline very specific proposals that we have in last year's budget and the budget from the year before
going off the fiscal cliff will hurt our economy, it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only one was a balanced plan to protect the economy, protect the american jobs, and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reform, it's going to be impossible to address...
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Dec 23, 2012
12/12
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facing the impending fiscal cliff that could devastate our economy and harm millions of americans, the majority decided to put together a last-minute legislation on a prayer. last night, the rules committee spent most of the evening debating legislation. even if the debate is taking place, it was dropped into our lap. it turned out to be a bill that went through the house of representatives. that is how the majority wants to solve the greatest economic threat facing our nation. with nothing less than millions of dollars on the line, does the majority really believe this will do nothing? we prepare a vote on this legislation and i think adjourned for the final time this year. if this is a final attempt to reach the compromise, our nation faces finding times. we may face the greatest displacement of workers since 1929 as sequestration takes effect and forces countless layoffs. how devastating is that to a recovering economy. every american knows we cannot let this happen. i believe everyone knows we never would. after last night, i am not so sure. this is not a serious solution to avoid
facing the impending fiscal cliff that could devastate our economy and harm millions of americans, the majority decided to put together a last-minute legislation on a prayer. last night, the rules committee spent most of the evening debating legislation. even if the debate is taking place, it was dropped into our lap. it turned out to be a bill that went through the house of representatives. that is how the majority wants to solve the greatest economic threat facing our nation. with nothing...
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Jun 24, 2012
06/12
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that leads to questions about the fiscal cliff. have you seen any evidence that a lack of progress on resolving the fiscal cliff issue is having an impact on the economy right now? is it slowing economic growth right now? job creation, as we saw last year during this same debate -- if you have not seen it yet, when might we start to see it hit the economy and hurt the economy? >> is still a bit early, but ase economy? >> i think it is a bit early. as we move forward in the year, we anticipate some economic effects. in the meeting, we had analysts talk about firms that might be government contractors. we're not sure that the contracts will be in place, come january. more generally, financial markets do not like uncertainty. i think that will be a negative. most important is that congress gets the policy right. i have talked about three elements for fiscal recovery policy. first is do no harm. second, maintain the effort to achieve a sustainable path over the longer term. and third, to modify the tax code and make good use of governm
that leads to questions about the fiscal cliff. have you seen any evidence that a lack of progress on resolving the fiscal cliff issue is having an impact on the economy right now? is it slowing economic growth right now? job creation, as we saw last year during this same debate -- if you have not seen it yet, when might we start to see it hit the economy and hurt the economy? >> is still a bit early, but ase economy? >> i think it is a bit early. as we move forward in the year, we...
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Sep 28, 2012
09/12
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she goes for the fiscal cliff and now she says it will not happen. can you imagine that kind of leadership? let's talk about education. this is the problem i see. we have a department of education in washington. they have 3500 employees that make over $100,000 a year. they are dictating to the school district how to do their jobs. i think that is a shame and it is wrong. i am not talking about closing down the department of education. i have never said that and never will. can we reduce the size of that department of education and get that money down to the school district? i believe the best education for children in nevada comes between parents, teachers, and principles. those are who should be making the decisions. >> if i could quickly comment. my opponent mentioned my vote on sequestration. just a few questions ago, he said he voted to end medicare by turning it over to private insurance companies twice. he said he was proud to any said he does not mean it, it would never pass anyway. all right, look. i understand the importance of a good educat
she goes for the fiscal cliff and now she says it will not happen. can you imagine that kind of leadership? let's talk about education. this is the problem i see. we have a department of education in washington. they have 3500 employees that make over $100,000 a year. they are dictating to the school district how to do their jobs. i think that is a shame and it is wrong. i am not talking about closing down the department of education. i have never said that and never will. can we reduce the...
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Nov 21, 2012
11/12
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fiscal tightening built into law, the so-called fiscal cliff. the realization of all the automatic tax increases and spending cuts that make up the fiscal cliff absent offsetting changes would pose a substantial threat to recovery. indeed, by the reckoning of the congressional budget office, and that of many outside observers, a fiscal shock of that size would send the economy toppling back into recession. second, early in the new year it will be necessary to improve and increase the federal debt limit to -- approved an increase in the federal dedead -- debt limit. the threat of default in the summer of 2011 fueled economic uncertainty and badly damaged confidence even though an agreement was ultimately reached. a failure to reach a timely agreement this time around could impose even heavier economic and financial costs. as this policy makers face these critical decisions, they should keep two decisions in mind. first, the federal gobudget is on an unsustainable path. the budget deficit, which peaked 2009, is expected to narrow further in the co
fiscal tightening built into law, the so-called fiscal cliff. the realization of all the automatic tax increases and spending cuts that make up the fiscal cliff absent offsetting changes would pose a substantial threat to recovery. indeed, by the reckoning of the congressional budget office, and that of many outside observers, a fiscal shock of that size would send the economy toppling back into recession. second, early in the new year it will be necessary to improve and increase the federal...
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Aug 22, 2012
08/12
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. >> if the fiscal cliff is avoided, the 1.7% growth is weak. why is that? >> the evidence suggests that the following financial crises, economies tend to have more severe slumps and more gradual recovery. then is the case following recessions do not follow financial crises. in the united states today, think demands for goods and services is being held back by a number of factors. the building of our housing stock leading to the financial crisis. there are a large number of unoccupied houses today, quite a bit fewer than a few years ago because it housing construction has been so weak. assault with good credit have been able to borrow for mortgages and a good rates. there is weaker demand for housing construction then normally coming out of recessions in the united states. another factor holding down economic growth has been restraint in spending in hiring by state and local governments. normally hiring is a factor boosting the economy and has not been the case this time. there has been a tremendous loss of household wealth in the stock market and the value
. >> if the fiscal cliff is avoided, the 1.7% growth is weak. why is that? >> the evidence suggests that the following financial crises, economies tend to have more severe slumps and more gradual recovery. then is the case following recessions do not follow financial crises. in the united states today, think demands for goods and services is being held back by a number of factors. the building of our housing stock leading to the financial crisis. there are a large number of...
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Dec 31, 2012
12/12
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if we go over the fiscal cliff, the risk to the economy is strong. there is it to families is real. it is as if politicians are playing tug of war. as soon as we get through the fiscal cliff -- the hope is we would replace the fiscal cliff with real policies that would keep us from going over it. now looks as though we're not going to be able to do anything to tackle the challenges right now. the partisan environment is getting worse and worse. that leaves us with questions about whether these guys can govern. host: front page of "the new york times." let me read a few points. "more difficult to reach a compromise." guest: that is absolutely true. i feel we're watching a game of finger-pointing and not much else. both sides are pointing fingers and shouting it is the other guy's fault. what if any other business environment worked this way instead of solving the problems and working together? the toxic environment calls into question when we of challenges or other important issues -- can the american political system step up and deal with sit? the answer is not very well. we feel sa
if we go over the fiscal cliff, the risk to the economy is strong. there is it to families is real. it is as if politicians are playing tug of war. as soon as we get through the fiscal cliff -- the hope is we would replace the fiscal cliff with real policies that would keep us from going over it. now looks as though we're not going to be able to do anything to tackle the challenges right now. the partisan environment is getting worse and worse. that leaves us with questions about whether these...
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Sep 30, 2012
09/12
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she also talked about the fiscal cliff and the political climate in the united states as well as the role of central banks. this is about 1.5 hours. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> let me will commute to the peterson institute of international economics. christine hildegarlagarde, fromr prior position as minister of finance in france and continuing at the home of the imf. chief famously attended some of her high school in earlier days here in bethesda. she is a lawyer by training. she spent much of her career at baker and mckenzie, becoming chairman of they are global executive committee and then chairman of their global strategic committee in 2004. she then joined the french government in 2005, originally was minister for foreign trade and then minister for agriculture and fisheries for a brief time. then, in june 2007, she became the first woman to hold post of the minister of finance and economy of any g-7 countries. here rather noble milestone. she reminds me -- a rather notable milestone appeare.
she also talked about the fiscal cliff and the political climate in the united states as well as the role of central banks. this is about 1.5 hours. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> let me will commute to the peterson institute of international economics. christine hildegarlagarde, fromr prior position as minister of finance in france and continuing at the home of the imf. chief famously attended some of...
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Oct 15, 2012
10/12
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the fiscal cliff, taxes, almost universally, i have not heard anybody say it would not drive the economy into recession next year. i think that has to be avoided. it is a very fragile economy at this point. >> if you read editorials, you know we are against defense sequester cuts, and that is not because we think defense spending is efficient for the economy. it is because we are concerned about the national security implications of these cuts. there is an important distinction. if we need to spend the money to keep us safe, absolutely we should spend the money. what i object to is the idea that spending the money will be good for the economy. this is a dangerous world. we have already, against the baseline, made significant cuts, and there's no getting around it. these would cause a pretty big reduction in troop levels, military equipment, our strategies in terms of dealing with homeland security. the point i am making is we should make this decision based on national security, not based on some kind of keynesian stimulus to the economy. >> the effects of sequestration would take the bu
the fiscal cliff, taxes, almost universally, i have not heard anybody say it would not drive the economy into recession next year. i think that has to be avoided. it is a very fragile economy at this point. >> if you read editorials, you know we are against defense sequester cuts, and that is not because we think defense spending is efficient for the economy. it is because we are concerned about the national security implications of these cuts. there is an important distinction. if we...
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Dec 1, 2012
12/12
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maybe our economy can come back. host: we want to let our folks know about the fiscal cliff page. if you want to find out more about the issue of the fiscal cliffs 02 c- span.org/fiscalcliff. you can find out all the information you ever wanted to know about the fiscal cliff. this is the lead editorial in the financial times. back to the phones. billy is on the line for independents calling from florida. caller: i think the fiscal cliff is inevitable. they need to reform everything. keep in mind, every missile fired in libya cost taxpayers $9 million. i lived during the cuban crisis, castro --they need to let most countries solve their own problems. thank you for letting me call. host: we want to remind our viewers and listeners that today is world aids day. we have this story from "the huffington post." they are also putting up on the white house today red ribbon. you can see more pictures of that on the internet. let's take our last call from harrison on the line for democrats. your thoughts about the fiscal cliff and talks being at a stalemate. caller: i am a democrat, and i di
maybe our economy can come back. host: we want to let our folks know about the fiscal cliff page. if you want to find out more about the issue of the fiscal cliffs 02 c- span.org/fiscalcliff. you can find out all the information you ever wanted to know about the fiscal cliff. this is the lead editorial in the financial times. back to the phones. billy is on the line for independents calling from florida. caller: i think the fiscal cliff is inevitable. they need to reform everything. keep in...
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Dec 7, 2012
12/12
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when it comes to the fiscal cliff threatening the economy and jobs, the white house has wasted another week. eight days ago the treasury secretary came here to offer a plan that had twice the planned tax hikes the president campaigned on. more stimulus spending than the added cuts, and did and didn't but net -- in definite increase on the debt limit. four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there has been no counter offer from the white house. instead, records indicate the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. intent of reforming the tax code, the president wants to raise tax rates. even if the president got the tax rate hikes he wanted, understand we would continue to see trillion dollar deficit for a start -- far is that i can see. listed, washington has a problem spending, not the revenue problem. the president does not agree with our proposal. i believe is an obligation to families and small businesses to offer a plan of his own, a pla
when it comes to the fiscal cliff threatening the economy and jobs, the white house has wasted another week. eight days ago the treasury secretary came here to offer a plan that had twice the planned tax hikes the president campaigned on. more stimulus spending than the added cuts, and did and didn't but net -- in definite increase on the debt limit. four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there has been no counter...
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Nov 15, 2012
11/12
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he has got to step forward and help us deal with the most immediate crisis, the fiscal cliff. as we look down the road to things that we can do that will really make this -- put this country back on top track and keep the economy growing again, those are all things that are in our grasp and are in sight if we want to do the right things to make it happen. we all know the issue being debated right now is the issue of taxes. there is so much analysis out there, so many groups who have studied this issue very carefully and have said that if we raise taxes in a down economy it will cost as economic growth, 700,000 jobs, will reduce take-home pay for many americans. that is a wrong direction in which to go. but we believe that the president, if he is willing to have an opportunity here to work with republicans, we stand ready in the senate and house republicans to as well to work with him on a solution that will deal with the immediate crisis of the fiscal cliff. just as importantly, the long- term fiscal solvency of this country and getting our economy growing and getting american
he has got to step forward and help us deal with the most immediate crisis, the fiscal cliff. as we look down the road to things that we can do that will really make this -- put this country back on top track and keep the economy growing again, those are all things that are in our grasp and are in sight if we want to do the right things to make it happen. we all know the issue being debated right now is the issue of taxes. there is so much analysis out there, so many groups who have studied...
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Nov 28, 2012
11/12
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and furthermore, on the fiscal cliff, the 1/3 of the economy, the economic problems are caused by lack of employment and so if more money were spent on a jobs program, especially building roads, things that increase productivity for people, would be much better off than giving tax breaks to the rich. or to actually anybody. so i think that this whole argument is skewed because people don't understand we have a supply-he can manned economy and it's the demand that's broken here. host: ok. guest: i think the caller makes a good point. there's no question that the most immediate problem facing the economy is a continued lack of demand. basically economic inactivity, spending, investment, which is still somewhat leftover by the financial crisis and the recession and there's this debate in washington about whether you should address -- whether you should address that now through additional spending measures, there's not many proposals anymore to do that although a few prominent people like larry summers and president obama's former top economic advisor has suggested renewing the payroll tax
and furthermore, on the fiscal cliff, the 1/3 of the economy, the economic problems are caused by lack of employment and so if more money were spent on a jobs program, especially building roads, things that increase productivity for people, would be much better off than giving tax breaks to the rich. or to actually anybody. so i think that this whole argument is skewed because people don't understand we have a supply-he can manned economy and it's the demand that's broken here. host: ok. guest:...
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Oct 24, 2012
10/12
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close to the fiscal cliff which some say will plunge the economy right back into a deep recession. regardless of the outcome, what ability does the congress have? >> with respective and king, we worked together. he's asked which caught is he will join. he declined to say. he said were the centers your first one to meet. he said he would like to meet with tom carper. with respect to the fiscal cliff, we have the responsibility to make sure we do not go over. the best way is to follow the deficit reduction plan put forth by the bulls simpson -- b owles-simpson plan. the revenues would not raise taxes. it would lower the tax bracket and broaden the base and income that is taxable. everything is on the table. republicans have to agree to make some reforms on taxes that create some additional revenues. i have seen a lot of blueprints. that is the best one we have seen that far. we need strong leadership and the government to know. i hope president obama will be reelected. if he is, if he is strong leadership to get us there. the business community has to provide cover for the republican
close to the fiscal cliff which some say will plunge the economy right back into a deep recession. regardless of the outcome, what ability does the congress have? >> with respective and king, we worked together. he's asked which caught is he will join. he declined to say. he said were the centers your first one to meet. he said he would like to meet with tom carper. with respect to the fiscal cliff, we have the responsibility to make sure we do not go over. the best way is to follow the...
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Nov 12, 2012
11/12
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the article notes that the fiscal cliff would drive the u.s. economy back into recession next year and there would be a jump in the jobless rate to 9.1% by the end of 2013, according to this new report from the cbo. tell us about that. guest: this is a very unusual time. the fiscal with all of these really big fiscal issues,, we have never seen cdo come out before, you know, the official -- the cbo come out before, you know, the official estimate for the congress. we have never seen them come out with something like this before. they have been on the case since earlier this year. host: did member of congress ask them to do this report, or were they scheduled to do it? guest: i do not know the answer. i think they have issued a number of warnings as they have testified before congress. i think this is an update of the warnings that they have been doing. we are talking about, at least in the short term in 2013 a shock to the economy is nothing gets done. and a little bit of a lack of confidence, too. the statutory debt limit, there is some flexib
the article notes that the fiscal cliff would drive the u.s. economy back into recession next year and there would be a jump in the jobless rate to 9.1% by the end of 2013, according to this new report from the cbo. tell us about that. guest: this is a very unusual time. the fiscal with all of these really big fiscal issues,, we have never seen cdo come out before, you know, the official -- the cbo come out before, you know, the official estimate for the congress. we have never seen them come...
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Jun 11, 2012
06/12
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but the fiscal cliff is a real cliff. it would be very bad for the economy in very bad for a lot these people care about if we let all the tax cuts expire all at once, and the alternative minimum tax and all the things that are in the cliff, as well as this being sequestered, so that making a framework agreement for say six months to come back with a better, real tax reform, and the entitlement reform, and if you don't do that, the cliff is still there. there is a very real reason for addressing the problems. postponing, giving the congress more time -- like six months to me seems reasonable -- after all, you guys did it in six days. >> we rested on the seventh day. [laughter] >> it seems to me a very reasonable thing to do. is called kicking the can down the road. it shouldn't be. it is moving the fiscal cliff a few months. it is still there. >> i'm not making light of it, senator, when i call it a stop like. that was a statute designed tool have workers not occur. bob packwood did a great job in 1986. lowered the rates.
but the fiscal cliff is a real cliff. it would be very bad for the economy in very bad for a lot these people care about if we let all the tax cuts expire all at once, and the alternative minimum tax and all the things that are in the cliff, as well as this being sequestered, so that making a framework agreement for say six months to come back with a better, real tax reform, and the entitlement reform, and if you don't do that, the cliff is still there. there is a very real reason for...
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Nov 27, 2012
11/12
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the washington post writes that the white house is ratcheting up pressure to avoid the fiscal cliff. on c-span tonight, we will bring you some of the house and senate debate from august of 2011, when congress passed the budget control act that triggered cuts to take effect on january 1. we will also hear from president obama, who signed the deficit reduction measure into law, part of the deal to raise the debt ceiling. first, senate majority leader harry reid and republican majority leader mitch mcconnell will talk on the senate floor about the january fiscal deadline. >> since our country voted to return president obama to the white house, i have spoken often about compromise. i remain optimistic that, when it comes to our economy, when it comes to protecting middle-class families from a whopping tax hike, republicans and democrats will be able to find common ground. president dwight eisenhower, a republican, once said, "people talk about the middle of the road as though it were unacceptable. there have to be compromises. the middle of the road is all usable space." so said white ho
the washington post writes that the white house is ratcheting up pressure to avoid the fiscal cliff. on c-span tonight, we will bring you some of the house and senate debate from august of 2011, when congress passed the budget control act that triggered cuts to take effect on january 1. we will also hear from president obama, who signed the deficit reduction measure into law, part of the deal to raise the debt ceiling. first, senate majority leader harry reid and republican majority leader...
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Nov 17, 2012
11/12
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back from this fiscal cliff that is threatening the nation's economic recovery. those studies are just going to be a figleaf for anyone, whether it is the the administration or either side of the aisle in congress, who has the political courage to lead this country to some sort of tax reform grand bargain that will include a carbon tax. we do not need the information in the analysis. it has been there, but we need the political will. those studies will be part of what some members of congress, hopefully the president can waive all around, and tell us this is the way to go. host: republican line. good morning. caller: good morning. i have a question about your comment about the rich people on the airplanes. what i was wondering if is do you hit rich people? it sounds like it. hold on a second. in 1900, when somebody was rich, they said congratulations, in 1950, that is awesome, the american dream, in 1995, that is awesome, we have a dream, and now somebody is rich, people like you say how dare you have money. guest: well, of the 40 major industrial economies in th
back from this fiscal cliff that is threatening the nation's economic recovery. those studies are just going to be a figleaf for anyone, whether it is the the administration or either side of the aisle in congress, who has the political courage to lead this country to some sort of tax reform grand bargain that will include a carbon tax. we do not need the information in the analysis. it has been there, but we need the political will. those studies will be part of what some members of congress,...
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Dec 27, 2012
12/12
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if he gets the bill through without pulling the fiscal cliff, our economy will improve the tax revenues from that will be more than he would get from the rich now. host: appreciate the call. let's go to oklahoma, a line for republicans. caller: i am so disgusted with both political parties. it seems they are putting their party before their country. and i want these politicians to know they are the ones that have been up there for years and spent all this money and now the average person will be the one who will have to pay, and i believe they are being bought off by the 2%. right is right, wrong is wrong, and to take away from the needy and cut food stamps from people who qualify -- it takes an act of congress to qualify. i cannot understand that these people are protecting the 2% of the country. host: jefferson city, missouri, you are on. go ahead. caller: yeah, i think boehner should be removed from the speaker of the house, and president obama should be in and his entire staff, including hillary clinton. i do not know if you have noticed but nancy pelosi, her eyes are consistently d
if he gets the bill through without pulling the fiscal cliff, our economy will improve the tax revenues from that will be more than he would get from the rich now. host: appreciate the call. let's go to oklahoma, a line for republicans. caller: i am so disgusted with both political parties. it seems they are putting their party before their country. and i want these politicians to know they are the ones that have been up there for years and spent all this money and now the average person will...
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Nov 9, 2012
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caller: let's go with the fiscal cliff coming up. my thoughts were my belief is, and i hope somebody calls and corrects me or you correct me, if the fiscal cliff is reached on january 1, the first thing to go would be the bust tax cuts. everything else will be phased in over time. we can let the tax cuts hit. it will then come to the table and negotiate everything else. do not paint a draconian picture of it, even though it is somewhat draconian. i think congress would sit down and negotiate a fair and proper tax code. they do that really want to go back to that. constituents will say they blocked everything for a second term. they are up for election. the election we just had spoke to a major. in this country, it is all about the taxes. host: would you be ok with a short-term bridge? caller: if you consider the fact it will not hit on january 1, everything went up. it stays-- it phases in overtime. host: what if they had a short- term bridge to deal with this at the beginning of next year or do you want it dealt with? caller: they n
caller: let's go with the fiscal cliff coming up. my thoughts were my belief is, and i hope somebody calls and corrects me or you correct me, if the fiscal cliff is reached on january 1, the first thing to go would be the bust tax cuts. everything else will be phased in over time. we can let the tax cuts hit. it will then come to the table and negotiate everything else. do not paint a draconian picture of it, even though it is somewhat draconian. i think congress would sit down and negotiate a...
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Dec 13, 2012
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up to the fiscal cliff. doing that puts our jobs and the country in danger. it jeopardize is a golden opportunity to make 2013 the year that we enact fundamental tax reform and entitlement reform to begin to solve our country's debt problem and revenue problem. as you can see, real revenue growth is critically important as long as real cuts in spending if we're going to solve our long-term fiscal problems. the election was not a mandate to raise taxes on small businesses. it was a mandate for both parties to work together to take on the big challenges that our country is facing. republicans are ready and eager to do just that. we made a reasonable offer, and is now up to the white house to show us how they are going to cut spending and give us the balanced agreement that the president has talked about for weeks. the president will step up and show us he is willing to make the cuts that are needed, we can do some real good in the days ahead. if not, he wants to keep chasing higher spending with higher taxes,
up to the fiscal cliff. doing that puts our jobs and the country in danger. it jeopardize is a golden opportunity to make 2013 the year that we enact fundamental tax reform and entitlement reform to begin to solve our country's debt problem and revenue problem. as you can see, real revenue growth is critically important as long as real cuts in spending if we're going to solve our long-term fiscal problems. the election was not a mandate to raise taxes on small businesses. it was a mandate for...
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Dec 31, 2012
12/12
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if we go over the fiscal cliff, the risk to the economy is strong. there is it to families is real. it is as if politicians are playing tug of war. as soon as we get through the fiscal cliff -- the hope is we would replace the fiscal cliff with real policies that would keep us from going over it. now looks as though we're not going to be able to do anything to tackle the challenges right now. the partisan environment is getting worse and worse. that leaves us with questions about whether these guys can govern. host: front page of "the new york times." let me read a few points. "more difficult to reach a compromise." guest: that is absolutely true. i feel we're watching a game of finger-pointing and not much else. both sides are pointing fingers and shouting it is the other guy's fault. what if any other business environment worked this way instead of solving the problems and working together? the toxic environment calls into question when we of challenges or other important issues -- can the american political system step up and deal with it? the answer is not very well. we feel sad
if we go over the fiscal cliff, the risk to the economy is strong. there is it to families is real. it is as if politicians are playing tug of war. as soon as we get through the fiscal cliff -- the hope is we would replace the fiscal cliff with real policies that would keep us from going over it. now looks as though we're not going to be able to do anything to tackle the challenges right now. the partisan environment is getting worse and worse. that leaves us with questions about whether these...
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Dec 20, 2012
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first, on the fiscal cliff, obama keeps this class warfare going with his 98% and 2%. what i would like to say is the two% probably use fewer government services than anybody else, whereas the nine disparate 90% probably use most of the government services. why should the to% who don't use the services paid for the 95% who do? on the arms control thing, i would like to point out that the nra and those opposed to the nra never bring up the point of the second amendment. when it was written, there was no such thing as an automatic or even a semi-automatic weapon. the law has to be brought up-to- date. i would like to hear you answer to both of those problems. thank you. guest: charles, i appreciate those questions. guns and weapons of choice have changed throughout the years and our laws have changed as well. the state of connecticut had the type of gun laws that have been proposed and they did not work. at the end of the day, is an individual person's problem. changing laws does not necessarily change hearts. it's a cultural problem as well. that's why i don't think we
first, on the fiscal cliff, obama keeps this class warfare going with his 98% and 2%. what i would like to say is the two% probably use fewer government services than anybody else, whereas the nine disparate 90% probably use most of the government services. why should the to% who don't use the services paid for the 95% who do? on the arms control thing, i would like to point out that the nra and those opposed to the nra never bring up the point of the second amendment. when it was written,...
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Aug 6, 2012
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cliff, taxes and spending cuts that could really affect the economy next year. unfortunately, i think president obama was right in terms of the market reaction. we are still being treated as a aaa country. there's been more investor interest in buying u.s. treasuries. in terms of congressional action, we have not seen a lot of progress or a lot of reasons to be optimistic about our politicians being able to get things done. host: did the downgrade affects the economy at all? you mentioned the markets and how the market's not really been affected. has it affected the economy in the big picture? guest: it affected the markets in the short term. the day after the downgrade the market's tumble. people did not know what to make of it. a year later, we see that treasuries have rallied. interest rates on the 10-year treasury, benchmark at below 1.4% recently, about one percentage point down from a year ago. if it's not that people are scared of the u.s. dollar or the u.s. treasury. the appetite for those "usa today and products has grown. -- u.s. safe haven products ha
cliff, taxes and spending cuts that could really affect the economy next year. unfortunately, i think president obama was right in terms of the market reaction. we are still being treated as a aaa country. there's been more investor interest in buying u.s. treasuries. in terms of congressional action, we have not seen a lot of progress or a lot of reasons to be optimistic about our politicians being able to get things done. host: did the downgrade affects the economy at all? you mentioned the...
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Dec 27, 2012
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the economy should be expanding to% or 3% next year without the fiscal cliff, that would correlate with about 2 million net new jobs next year. so it's a continuation of a steady expansion. i wish it was a little faster expansion, but nonetheless it is an expansion. if we had a fiscal cliff, and we are reversing all the gains we have seen. host: what about mortgage deduction on a second home or vacation home or a certain limit to the size of a mortgage? would you be supportive of that? guest: we have to recognize that negotiating away from what has been a striking departure from just protecting the mortgage interest deduction, property ownership. any breach to that invites further breaches. our members, even though they recognize the deck is a need to be resolved, any breach will lead to further coming back, loring the income limit. -- lowering the income limit. we have to recognize many of the second homes are in places like michigan, wisconsin, arkansas, where people are looking for a weekend fishing lodge. very not the hamptons or expensive homes in beverly hills. many homes are scat
the economy should be expanding to% or 3% next year without the fiscal cliff, that would correlate with about 2 million net new jobs next year. so it's a continuation of a steady expansion. i wish it was a little faster expansion, but nonetheless it is an expansion. if we had a fiscal cliff, and we are reversing all the gains we have seen. host: what about mortgage deduction on a second home or vacation home or a certain limit to the size of a mortgage? would you be supportive of that? guest:...
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Dec 4, 2012
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and will they take the economy with them over the cliff? the fiscal cliff confronting us threatens an economic mess, half of which could be resolved in one fell swoop by passing the middle class tax cuts. the senate has already acted, the president is waiting to sign it. republicans should join with democrats and give 98% of americans and 97% of small businesses the certainty that they won't face a tax increase on january 1. colleagues, republicans as well as democrats, sign now, the signal that america needs. the speaker pro tempore: the gentleman from michigan yields back. for what purpose does the gentleman from south carolina seek recognition? without objection, the gentleman from south carolina is recognized for one minute. mr. wilson: mr. speaker, yesterday speaker boehner sent a letter to the president in response to his unreasonable proposal to how congress can avert the fiscal cliff. shortly after the election, the house republican leadership presented the president with a balanced framework of coupling spending come cutlers and re
and will they take the economy with them over the cliff? the fiscal cliff confronting us threatens an economic mess, half of which could be resolved in one fell swoop by passing the middle class tax cuts. the senate has already acted, the president is waiting to sign it. republicans should join with democrats and give 98% of americans and 97% of small businesses the certainty that they won't face a tax increase on january 1. colleagues, republicans as well as democrats, sign now, the signal...
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Dec 5, 2012
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we look at the entirety of the fiscal cliff and they have determined that this could drive the economy into negative territory and lead back into a recession. that's the last thing we want to see. along the lines of growth, we need to be sure that we're not doing something here short-term that puts the economy back in a position where we're not generating the kind of revenue because there's a lack of growth, to be able to deal with these issues and to get our unemployment numbers down. in my view this recovery is not your father's recovery. it's different. and it's different than any recovery we've had in this country. if you look at even the recovery in 2001 to 2003, that time period, we called it the jobless recovery. and yet by this time in that recovery we'd already brought back 2.6 million jobs. so at this point after the recession began, 2.6 million jobs had returned. and that was considered jobless. if you look back at the recovery after the 1980 and 1981 recession which was a recession that was also deep in fact, unemployment rass higher than it was in the most recent recession
we look at the entirety of the fiscal cliff and they have determined that this could drive the economy into negative territory and lead back into a recession. that's the last thing we want to see. along the lines of growth, we need to be sure that we're not doing something here short-term that puts the economy back in a position where we're not generating the kind of revenue because there's a lack of growth, to be able to deal with these issues and to get our unemployment numbers down. in my...
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Aug 4, 2012
08/12
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on the national level when it comes to fiscal issues, it seems there is a cliff we are about to drive off but people are not ready to compromise. at the state level, you always have to be ready to do that. you have a great reputation as anyone for being against taxes. at times, you have voted for a sales tax increase would have to be part of the package to keep a clip from happening. do you think it is possible vote on the federal level -- do you think it is possible on the federal level to find a solution somewhere to are the simpson-bowles came out? will there be tax reform, but also a larger proportion -- dor do you think it is too big of a compromise? >> instead of steps looking at where the income will come from, how are we spending the money? [applause] whether you are a republican or a democrat, everyone needs to understand that government money belongs to the people. how they spend it matters. this last budget, i said that any additional revenues that come in -- i do not think any states are out of the woods -- i think any additional revenues that come in should pay off debt o
on the national level when it comes to fiscal issues, it seems there is a cliff we are about to drive off but people are not ready to compromise. at the state level, you always have to be ready to do that. you have a great reputation as anyone for being against taxes. at times, you have voted for a sales tax increase would have to be part of the package to keep a clip from happening. do you think it is possible vote on the federal level -- do you think it is possible on the federal level to...
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Apr 28, 2012
04/12
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of the fiscal cliff is such that i think there is no chance the federal reserve could have any ability to offset that the fact on the economy. as i have said many times before, it is imperative for congress to give us a fiscal policy that achieves two principal objectives. the first is, of course to achieve fiscal sustainability over the longer-term. that is critical and something that needs to be addressed. at the same time i think that can be done in a way that does not endanger the short-term recovery of the economy. i am concerned that a fall of the tax increases and spending cuts that are associated with the current law that would take place if any action were to occur on january 1, that would be a significant risks to the -- risk to the recovery. i am hoping congress will take action that will address both requirements of the fiscal policy. >> mr. chairman, and today posies they been you said you expect the economy to pick up gradually. in the forecast with that today we see the forecast for 2013 and and 2014, the growth forecast is downgraded. what caused the to downgrade your f
of the fiscal cliff is such that i think there is no chance the federal reserve could have any ability to offset that the fact on the economy. as i have said many times before, it is imperative for congress to give us a fiscal policy that achieves two principal objectives. the first is, of course to achieve fiscal sustainability over the longer-term. that is critical and something that needs to be addressed. at the same time i think that can be done in a way that does not endanger the...
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Jul 17, 2012
07/12
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a headline in "the hill," he tries to avoid the fiscal cliff. here's mr. bernanke's testimony from today. >> i'm pleased to present the federal reserve's semi-annual policy before the congress. i'll discuss current economic conditions and the outlook before turning to monetary policy. the u.s. economy has continued to recover but economic activity appears to have decelerated somewhat during the first half of this year. after rising at an annual rate of 2.5% in the second half of 2011, real g.d.p. rate increased at a 2% rate during the first quarter of 2012 and available indicators point to a still smaller gain in the second quarter. conditions in the labor market continued early this year with the unemployment rate falling about a percentage point over that period. however, after running at nearly 200,000 per month during the fourth and first quarters, the average increase in payroll employment shrank to 75,000 per month during the second quarter. issues related to seasonal adjustment and the unusually warm weather this past winter can account for part but
a headline in "the hill," he tries to avoid the fiscal cliff. here's mr. bernanke's testimony from today. >> i'm pleased to present the federal reserve's semi-annual policy before the congress. i'll discuss current economic conditions and the outlook before turning to monetary policy. the u.s. economy has continued to recover but economic activity appears to have decelerated somewhat during the first half of this year. after rising at an annual rate of 2.5% in the second half of...
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Oct 10, 2012
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. >> to and if you really think we're going to jump off a fiscal cliff? >> i think it is at least that the tax cut scheduled to expire to expire. maybe slightly higher. >> you have members of leadership on the hill saying that this should happen. in an economy in which manufacturing makes up a lot of jobs, there is 42 million retail jobs like macy's. consupmption is 70% of this economy. the positive word they use is "cautious" because of the concern about where this country is going to go. we have people walking around the hill saying, we should let this happen. the chilling effect does not cover it in damages of psyche. >> there is a chance that we end up with the sum of governments that we have today. we have barack obama back in the white house, democrats are holding the senate, and republicans holding the house. can you outline what you would like to happen? the thing that would be the easiest if we had republicans in the senate and in the white house as well? what happens if you have to do business, and especially with the divided government we have
. >> to and if you really think we're going to jump off a fiscal cliff? >> i think it is at least that the tax cut scheduled to expire to expire. maybe slightly higher. >> you have members of leadership on the hill saying that this should happen. in an economy in which manufacturing makes up a lot of jobs, there is 42 million retail jobs like macy's. consupmption is 70% of this economy. the positive word they use is "cautious" because of the concern about where this...
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Oct 9, 2012
10/12
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talking about the fiscal cliff. we have deep spending cuts and tax increases, what is your approach -- why is your approach better for the economy and why is your approach better than your opponents approach? >> i don't know your opponent's approach. you are going to ask a question to him in a second. the approach has got to be bipartisan. we've got to work together to solve this problem. we're talking about problem in the debt and deficit. the fiscal cliff comes at the first of the year. there is no doubt that if we don't work together, we are dead in the water. mike, there have been plenty of proposals out there that make sense for this country. big broad based proposals. talked about many of them. they're the simpson-bowls and the list goes on. all sorts of gangs. the bottom line is those templates can be put together. it has to have everything in it, everything has to be addressed. people need to work together. i think there's critical minds in senate to get it done. when we talk about sequestration and the fisc
talking about the fiscal cliff. we have deep spending cuts and tax increases, what is your approach -- why is your approach better for the economy and why is your approach better than your opponents approach? >> i don't know your opponent's approach. you are going to ask a question to him in a second. the approach has got to be bipartisan. we've got to work together to solve this problem. we're talking about problem in the debt and deficit. the fiscal cliff comes at the first of the year....
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Oct 9, 2012
10/12
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talking about the fiscal cliff. we have deep spending cuts and tax increases, what is your approach -- why is your approach better for the economy and why is your approach better than your opponents approach? >> i don't know your opponent's approach. you are going to ask a question to him in a second. the approach has got to be bipartisan. we've got to work together to solve this problem. we're talking about problem in the debt and deficit. the fiscal cliff comes at the first of the year. there is no doubt that if we don't work together, we are dead in the water. mike, there have been plenty of proposals out there that make sense for this country. big broad based proposals. talked about many of them. they're the simpson-bowls and the list goes on. all sorts of gangs. the bottom line is those templates can be put together. it has to have everything in it, everything has to be addressed. people need to work together. i think there's critical minds in senate to get it done. when we talk about sequestration and the fisc
talking about the fiscal cliff. we have deep spending cuts and tax increases, what is your approach -- why is your approach better for the economy and why is your approach better than your opponents approach? >> i don't know your opponent's approach. you are going to ask a question to him in a second. the approach has got to be bipartisan. we've got to work together to solve this problem. we're talking about problem in the debt and deficit. the fiscal cliff comes at the first of the year....
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Nov 9, 2012
11/12
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the president talking about the economy and the deficit and avoiding that so-called fiscal cliff, saying that he would like to continue the tax cuts for the middle class americans right now and then have the leaders of congress and himself negotiate everything else that deals with that so-called fiscal cliff. we're taking your phone call with your phone calls. get your phone calls here in just a few seconds, as we continue to watch this room and full barrett no questions from reporters for the president appeared by the way, house speaker john boehner gave his own news conference. he took questions a couple of hours ago, and we will bring that to you hear it just about 10 minutes in case you missed it. you can also find it on our website at c-span.org. the speaker said raising taxes even on the wealthiest americans, he said, could hurt the economy, but he did say he was open to the idea of raising revenue by lowering tax rates and eliminating special interest the polls corporations and individuals. how the two sites come together we all have to wait and see, but we want to get your take.
the president talking about the economy and the deficit and avoiding that so-called fiscal cliff, saying that he would like to continue the tax cuts for the middle class americans right now and then have the leaders of congress and himself negotiate everything else that deals with that so-called fiscal cliff. we're taking your phone call with your phone calls. get your phone calls here in just a few seconds, as we continue to watch this room and full barrett no questions from reporters for the...
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Dec 19, 2012
12/12
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tweets -- a few others -- public opinion seems strong out there over the fiscal cliff negotiations. here's an article from the washington post. the article shows some of the results of a poll. one of the questions asked is, do you approve or disapprove of the weight different leaders are handling the negotiations over the fiscal cliff? we are taking your calls. next, maryland. dana, your reaction on the proposal from john boehner? caller: i am pretty pleased with the job he has been doing. i wish that a compromise had already been achieved. but all i hear from the democrats is complaining. i am bothered about the letter from nancy pelosi to john boehner some months ago, because if that was just a ploy, why was she playing like that? these are human beings. these are lives that depend on what the federal government does. many of us worked very hard to pay taxes that go to help many people who are not working. i am very -- deeply bothered by people playing games with mine earnings -- my earnings. host: is there room for further negotiation or do you think the speaker has compromised e
tweets -- a few others -- public opinion seems strong out there over the fiscal cliff negotiations. here's an article from the washington post. the article shows some of the results of a poll. one of the questions asked is, do you approve or disapprove of the weight different leaders are handling the negotiations over the fiscal cliff? we are taking your calls. next, maryland. dana, your reaction on the proposal from john boehner? caller: i am pretty pleased with the job he has been doing. i...
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Nov 30, 2012
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we don't want to go over the fiscal cliff. that would be bad for the economy. we both think, i believe, i hope, that we need to have a balanced agreement so we will not go over the cliff that would be bat for -- bad for the country, bad for the american people, we don't want to do that. the gentleman in my view doesn't not want to do that. put one way to give some confidence which is very important to the growth of the economy, is to assure, as tom cole, your former chairman of the republican campaign committee, said just the other day, and i believe you're -- in i believe your web meeting that he believes that this ought to be done. we ought to give the 98% assurances. we can debate and the prevailing side will win. but i don't think there's disagreement on the 98%. i think we agree on that as i said before the election and i said after the election, we need to move forward on that. that's something that i think -- on which you and i can agree, the democrats and republicans in this house can agree, that the senate an agree to. there was a bipartisan vote to le
we don't want to go over the fiscal cliff. that would be bad for the economy. we both think, i believe, i hope, that we need to have a balanced agreement so we will not go over the cliff that would be bat for -- bad for the country, bad for the american people, we don't want to do that. the gentleman in my view doesn't not want to do that. put one way to give some confidence which is very important to the growth of the economy, is to assure, as tom cole, your former chairman of the republican...
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Oct 1, 2012
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she goes for the fiscal cliff and now she says it will not happen. let's talk about education. this is the problem i see. we have a department of education in washington. they have 3500 employees that make over $100,000 a year. they are dictating to the school district how to do their jobs. i think that is a shame and it is wrong. i am not talking about closing down the department of education. i have never said that and never will. can we reduce the size of that department of education and get that money down to the school district? i believe the best education for children in nevada comes between parents, teachers, and principles. -- principals. those are who should be making the decisions. >> if i could quickly comment. my opponent mentioned my vote on sequestration. just a few questions ago, he said he voted to end medicare by turning it over to private insurance companies twice. he said he was proud to any said he does not mean it, it would never pass anyway. all right, look. i understand the importance of a good education. i am the first person in my family to go to colle
she goes for the fiscal cliff and now she says it will not happen. let's talk about education. this is the problem i see. we have a department of education in washington. they have 3500 employees that make over $100,000 a year. they are dictating to the school district how to do their jobs. i think that is a shame and it is wrong. i am not talking about closing down the department of education. i have never said that and never will. can we reduce the size of that department of education and get...
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Nov 27, 2012
11/12
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if we get this done, if we get the fiscal cliff done, if we have a credible $4 trillion deficit reduction plan, signed and sealed, signed by the president, what does that say to the rest of the world? while many other economies in europe and other places are struggling, ours will be the strongest currency in the world in terms of the future and economy we are preparing for. it takes a lot of hard work, but it's worth the effort. and all will prosper if our economy moves forward. saturday night my wife and i went to see a movie by steven spielberg by another gentleman who led illinois for a while named abraham lincoln. daniel day-lewis, who does a great job, was sitting across the table from a group of southern confederates and there was a talk about what was this war all about? seen all the carnage and death and division across america and at one point lincoln through daniel day-lewis said, it was about proving that democracy is not chaos. well, in those days the cost of that proof was 600,000 american lives. thank goodness we don't face anything like that, but we face the same challenge.
if we get this done, if we get the fiscal cliff done, if we have a credible $4 trillion deficit reduction plan, signed and sealed, signed by the president, what does that say to the rest of the world? while many other economies in europe and other places are struggling, ours will be the strongest currency in the world in terms of the future and economy we are preparing for. it takes a lot of hard work, but it's worth the effort. and all will prosper if our economy moves forward. saturday night...
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Aug 15, 2012
08/12
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the other thing to deal with is the fiscal cliff, which is primarily a tax cliff but maybe defense spending cliff. if the bush tax cuts expire, that will take about $400 billion out of the economy and it will reduce marginal incentives to grow. the congressional budget office it thinks that creates a recession next year. people think it is impacting this year's economy. firms are pulling back. on the spending side, defense taking $500 billion -- $1 tr illion. defense is not half the budget. we're risking our national security posture and all these big defense companies and weapons companies. they are pulling back because they know think that federal money will dry up. the fiscal cliff should have been attended to. congress should not have gone on a break until the fixed the fiscal cliff. host: what do think will happen when congress gets back? guest: that is one hell of a good question. what i hope will happen is that the tax cut will be extended in their entirety for a year. in that year, the congress and maybe a new congress or new administration can figure out individual and corporate ta
the other thing to deal with is the fiscal cliff, which is primarily a tax cliff but maybe defense spending cliff. if the bush tax cuts expire, that will take about $400 billion out of the economy and it will reduce marginal incentives to grow. the congressional budget office it thinks that creates a recession next year. people think it is impacting this year's economy. firms are pulling back. on the spending side, defense taking $500 billion -- $1 tr illion. defense is not half the budget....
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Jun 14, 2012
06/12
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jamie dimon sang the fiscal cliff may be reached before the end of the year. jpmorgan chase chairman testifying before the senate committee, saying the one thing to keep in mind about this is do not wait until december 31. he made the comments before the senate banking committee. he said that markets and businesses may start taking actions before that, but it would create --a slowdown in the economy. tax cuts put in place under president bush would expire with social security measures expiring as well. that's online and bloomberg. roberts is on the democratic line from vail, arizona. caller: first, can you give me quite a bit of time, please? even though the subject is complex, the answer is a lot easier. i am going to start off by having your note that i notice i don't get represented. your telephone on the other end, many times i stay on the phone like 15 minutes. by the time i get through, the subject has changed. in many cases. have severalwhy we ways to participate, like sending an e-mail. but please go ahead and we're glad that you got through. caller: w
jamie dimon sang the fiscal cliff may be reached before the end of the year. jpmorgan chase chairman testifying before the senate committee, saying the one thing to keep in mind about this is do not wait until december 31. he made the comments before the senate banking committee. he said that markets and businesses may start taking actions before that, but it would create --a slowdown in the economy. tax cuts put in place under president bush would expire with social security measures expiring...
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Dec 13, 2012
12/12
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i think the president and the democrats have two objects as we approach the fiscal cliff. number one, we're trying to accelerate what remains a fragile economy. number two, come up with a balanced approach to long-term deficit reduction. we have to deal with the long-term deficit reduction for a long-term economic growth. a balanced plan means a mix of cuts in revenue. we already agreed to over a trillion dollars in cuts but on top of that, the president proposed additional cuts along with high-income individuals. his plan has been out there, it's on the internet. i know people are asking for specifics, but the reality it is there. in fact, when i made my remark i held up a copy of his plan to remind people it is not that the president doesn't have a plan, it's that our republican colleagues may not like it but it is there. so with that i will -- >> let's go around the table. so you're experienced in this, what is the practical deadline for the formulation of a deal, kind of a rough outline if you want to get it done before the year runs out? >> before the end of the year?
i think the president and the democrats have two objects as we approach the fiscal cliff. number one, we're trying to accelerate what remains a fragile economy. number two, come up with a balanced approach to long-term deficit reduction. we have to deal with the long-term deficit reduction for a long-term economic growth. a balanced plan means a mix of cuts in revenue. we already agreed to over a trillion dollars in cuts but on top of that, the president proposed additional cuts along with...
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Jun 7, 2012
06/12
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what we need to do right now is to stop pushing families off of fiscal cliffs. we have to support the economy by investing in the american people. we need to get back to growing the middle class by lifting millions of americans out of poverty. mr. speaker, we must pass the american jobs act. invest in our america's infrastructure and transportation needs, increase job training efforts and strengthen our safety net. safety net programs like the supplemental nutrition assistance program and unemployment insurance just don't support struggling families but they support small businesses all across the country and in every single congressional district regardless of one's party. this congress must ensure that our nation's safety net is a bridge that is strong enough to deliver us all, even the most vulnerable, over these troubled waters. americans are waiting. democrats have been prepared to act and republicans must join us in creating jobs and reigniting the american dream for all. thank you and i yield back. . the speaker pro tempore: the chair now recognizes the g
what we need to do right now is to stop pushing families off of fiscal cliffs. we have to support the economy by investing in the american people. we need to get back to growing the middle class by lifting millions of americans out of poverty. mr. speaker, we must pass the american jobs act. invest in our america's infrastructure and transportation needs, increase job training efforts and strengthen our safety net. safety net programs like the supplemental nutrition assistance program and...
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Jun 6, 2012
06/12
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, really do need to start thinking about the fiscal cliff and what to do about it. if they do nothing and go over the cliff, the economy is going to be in big trouble and it is going to be very difficult for the federal reserve to get us out. i think he's going to make a really strong point to folks in congress. he is testifying that they need to act. i'm sure he understands they cannot act before the election, but they need to be thinking about this so after the election if they can act quite aggressively and quite quickly. host: mark zandi speaking yesterday. congressman mick mulvaney, the fiscal cliff that he's talking about includes a lot of changes to the tax policy, a bunch of other things that will happen at the end of the year, sequestration and the likes. what is congress' responsibility to stabilize things right now? guest: much more than the fed's responsibility. we have had and is discussions -- we have had candid discussions with his privately and publicly. every time i pressed him on my concerns about inflation and possible negative implications of wha
, really do need to start thinking about the fiscal cliff and what to do about it. if they do nothing and go over the cliff, the economy is going to be in big trouble and it is going to be very difficult for the federal reserve to get us out. i think he's going to make a really strong point to folks in congress. he is testifying that they need to act. i'm sure he understands they cannot act before the election, but they need to be thinking about this so after the election if they can act quite...
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Dec 16, 2012
12/12
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so, the impact of the fiscal cliff, while not something to be encourag encouraged, may not be as bad as many had thought. and certainly it isn't worth making bad policy that will have much longer-range implications. the didn't ceiling, the second issue, another kind of artificial date. it has been in law for decades and congress periodically, as a partisan debate over whether to extend it. it is an interesting debate since there is no option. you either extend it or default and default really shouldn't be an option and is something that should be avoided at all costs. but we put this critical date in there so that we can have the deba debate, have a vote, and then extend the death ceiling as we know we have to. finally, we have the issue of the debt and deficit in the long run. the issues of real importance. because, one, we don't account for our expenditures the way businesses do, the way individuals have to. we get to account for them and ignore many of the long-term implications. if we were to put them in, it would increase the amount of the debt that we owe and have promised dram
so, the impact of the fiscal cliff, while not something to be encourag encouraged, may not be as bad as many had thought. and certainly it isn't worth making bad policy that will have much longer-range implications. the didn't ceiling, the second issue, another kind of artificial date. it has been in law for decades and congress periodically, as a partisan debate over whether to extend it. it is an interesting debate since there is no option. you either extend it or default and default really...
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Dec 28, 2012
12/12
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right now, the country's attention and that of the media is on the fiscal cliff, and i understand that. economy of the nation and the world may be at stake here. i think that sooner or later, there will be some kind of an agreement. will we are talking about here is a fundamental change in the ruling, the possibility of a fundamental change in the way the senate does business peeping basically changing the rules of the senate from either 60 votes, sometimes 67, to 51 votes, which would make as no different than the house of representatives, and of course would reduce us in many respects not to irrelevance in the minority party. here is the problem. on one side, the majority leader and the democrats are frustrated by their inability to move forward with legislation. every time there is an opposition to a motion to proceed, which takes days and then they proceed, and that has made the united states congress -- one of the reasons why the united states congress is judged the least productive congress since the year 1947. so, understandably the majority is frustrated with their inability to
right now, the country's attention and that of the media is on the fiscal cliff, and i understand that. economy of the nation and the world may be at stake here. i think that sooner or later, there will be some kind of an agreement. will we are talking about here is a fundamental change in the ruling, the possibility of a fundamental change in the way the senate does business peeping basically changing the rules of the senate from either 60 votes, sometimes 67, to 51 votes, which would make as...
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Dec 28, 2012
12/12
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in congress and the potential fiscal cliff we are facing and the elimination of the tax cuts. a lot of the small business owners i talked to and know are in favor of keeping the tax cuts in place especially for the middle class. we believe in balanced approach and we think it's ok to allow the elimination of the tax cuts for the wealthy. as taxes increase, the taxes at my business will be effected and i will have less to pay for investments and new equipment, hiring new people, but personally my income tax rates will go up. it's already a financially constrained environment. but customers tax rates will go up creating less demand for my products and less revenue for me and less tax revenue for the government. i want to urge congress and senators to vote for keeping our tax cuts in place, especially for the middle class and pushing our fiscal crisis to a balanced approach. go ahead and eliminate those tax cuts for the wealthiest individuals. if we all look at it and tried to consider what was going to work for the best, we needed to look at consumer demand. consumer demand is i
in congress and the potential fiscal cliff we are facing and the elimination of the tax cuts. a lot of the small business owners i talked to and know are in favor of keeping the tax cuts in place especially for the middle class. we believe in balanced approach and we think it's ok to allow the elimination of the tax cuts for the wealthy. as taxes increase, the taxes at my business will be effected and i will have less to pay for investments and new equipment, hiring new people, but personally...
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Dec 16, 2012
12/12
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the real damage of the fiscal cliff is if it stays in place over the whole year. that is when you get the economy back into a recession. politicians know this. that is why there is not much of a demand to get this done by january. plus, if they really wanted to, they could enact something very short term to coast on the impact. host: if you would like to join the conversation, here are the numbers to call. for republicans, 202-585-3881. for democrats, 202-585-3880. for independents, 202-585-3882. host: let's look at the numbers of how taxes would change for americans. an average tax increase of about $400. you can see it on the screen, how it goes up. host: we are seen news, and we just heard from stephen and dennis, the speaker boehner is putting some numbers on the table in terms of taxes he would be willing to let expire. host: i have the physical fitness column at roll-call and it is always good to hear from him. he put on the table yesterday a plan that would increase taxes on those earning over $1 million. the speaker is putting as a condition of that tax in
the real damage of the fiscal cliff is if it stays in place over the whole year. that is when you get the economy back into a recession. politicians know this. that is why there is not much of a demand to get this done by january. plus, if they really wanted to, they could enact something very short term to coast on the impact. host: if you would like to join the conversation, here are the numbers to call. for republicans, 202-585-3881. for democrats, 202-585-3880. for independents,...